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UBS Warns Of "Scary" Oil Price Scenarios Once Inventory Buffers Run Dry Drawing down crude inventories at a record pace, with SPR releases doing the heavy lifting to cushion the Gulf supply shock, only delays the move higher in crude oil prices. Once those buffers are depleted, oil risks being violently repriced higher. That is why the Trump administration's race to secure a peace deal with Iran and reopen the Hormuz chokepoint has taken on new urgency in recent weeks. The longer the critical waterway remains disrupted, the greater the risk...

Tesla Surges After Beating Expectations, Says "Rebound Of Demand" For EVs Heading into today's TSLA earnings, Wall Street was braced for a miss, with debate only around how big it would be. Well, it wouldn't be an Elon Musk joint if there wasn't some big twist, and sure enough, the stocks is soaring after hour on what can only be described as a very big, and very unexpected beat. Here is what the company reported for the first quarter: Rev. $22.39B, beating Est. $22.19B Adj EPS 41c, beating Est. 34c, the second straight quarter Tesla’s...

Halliburton Sees First Signs Of Life In America's Oil Patch: "We Are In Early Innings" An emerging theme we are focusing on is the early stage of a major capex upcycle in America's oil patch, with even Goldman now moving in that direction and forecasting a boom that could echo the industry's expansion cycle of the early 2000s. Continental Resources CEO Doug Lawler was the first of the major oil patch players to mention in early April that "Continental is increasing our capital budget, which will increase production." Now, another giant...